Tecpetrol kicks off development at its unconventional oil field in northern Neuquén.

A new Tecpetrol project is taking shape in the Neuquén Basin: Los Toldos II Este. Located near Rincón de los Sauces, this compact 78-km² area is already seeing the first phases of development get underway.

"This is a major step in unconventional oil development with a significant regional impact, where we’re aiming to reach 70,000 barrels per day—nearly 10% of Argentina's current output," says Tecpetrol CEO, Ricardo Markous. The project will require extensive infrastructure and an investment of USD 2 billion.

The project is split into two staged targets: reaching an output of 35,000 barrels of oil per day (bpd) by Q1 2027 and 70,000 bpd by mid-year. "The biggest challenge is ensuring that all Tecpetrol sectors and suppliers move forward in sync to meet our goals," emphasizes Martin Bengochea, Vice President of the Neuquén and Vaca Muerta Basin.

"Strong planning, clear communication, and effective management control are essential. We also need to stay dynamic and flexible so we can adjust course when needed," points out Bengochea. He accompanied the Finance delegation on a roadshow with investors in New York, which led to the successful issuance of a new bond under New York law.

In search of optimization

At the end of 2016, after acquiring the Canadian oil exploration and production company Americas Petrogas, Tecpetrol took control of the field, which included a vertical well that yielded moderate results by 2017.

“Between 2017 and 2021, we decided to take a second look at the field, this time applying modern fracturing techniques and advanced knowledge. That’s when we saw production aligning with geological expectations,” explains Fernando Bardelli, Development Senior Manager.

After extensive studies of the deposit, the decision was taken to move forward with development from the ground up. The project includes drilling wells, building pads, installing collection systems, constructing a new treatment plant, and laying a network of oil and gas pipelines.

“We’re leveraging the knowledge and experience gained from designing and building Fortín de Piedra, and applying all those lessons to this new project,” emphasizes Pablo Vicentini, Facilities Project Director and Project Manager for Los Toldos II Este.

Efficiency is the company’s guiding principle, but always with a broad focus. “We're permanently looking to improve our health, safety, and environmental standards, while implementing best practices in plant design,” explains Rossmery Maturana, Regional HSE Senior Manager, adding that, "Our goal is to build a plant with top-tier safety standards, ergonomic efficiency, and minimal environmental impact."

The lessons learned feed into the strong synergy with Techint Engineering & Construction, a company within the same industrial group that will be responsible for building the treatment plant.

“Over time, one realizes that these projects bring real satisfaction and a great sense of belonging,” concludes Bengochea.